Anglo Swiss Signs Joint Ventures On Gold & Gemstones Properties.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--May 3, 2000

AngloSwissRes(ME:ASW.) (OTC Bulletin Board:ASWRF) Anglo Swiss Resources Inc. (ASW - Montreal, ASWRF - OTCBB) and Hampton Court Resources (HCR - CDNX) have finalized their Joint Venture Agreements on both the Catamayo River Property in southern Ecuador and the Blu Starr Property in British Columbia. Anglo Swiss has also closed a private placement for proceeds of CDN$600,000. The Agreements and the Private Placement are subject to regulatory approvals.

Catamayo River Property.

Hampton Court, as the operator, will proceed immediately with the installation of a portable wash plant operation on the Catamayo River Property, with commercial production expected to begin within 120 days. An independent geological report (Geoffrey Garcia, P.G. dated January 1997) estimated that the Catamayo River property contains 9.24 million cubic metres of gravel (12.0 million cubic yards) with a 332,820 ounce (10.3 million gram) resource of unrefined placer gold, assayed at .8616 fineness.

Hampton Court's equipment has a planned design capacity of 150 cubic yards per hour. Management expects to process an average of 90,000 cubic yards per quarter and revenue shall be split 50-50 between the two parties. This production level is expected to produce 2,220 ounces (68,800 grams) of unrefined gold. By increasing production to 180,000 yards per quarter, HCR will earn an additional pro-rated10% of revenue to a maximum of 60%. Blu Starr Property

Hampton Court will expend $1,000,000 over a three-year period to earn a 40% interest in the Blu Starr Property in the Slocan Valley of British Columbia, Canada. This gemstone property now consists of over 15,000 acres of mineral tenure rights and 1853 acres of placer mineral rights.

Phase 1 -- $250,000 work program -- earned interests HCR -- 10%, Anglo -- 90%

Phase 2 -- $250,000 work program -- earned interests HCR -- 20%, Anglo -- 80%

Phase 3 -- $500,000 work program -- earned interests HCR -- 40%, Anglo -- 60%

HCR shall have the right for a period of 180 days from the end of the Phase 3 earning period to elect to purchase an additional 10% interest in the Blu Starr Property for $1,000,000 or 20% for $2,000,000.

Over the last year, Anglo's gemstone discovery has attracted coverage by top, American jewelry trade magazines. The Gemological Institute of America (the official nonprofit educational organization for the jewelry industry), in their "Gems & Gemology," addressed the significance of Anglo's iolite, garnet, star-sapphire, etc. discovery. The publication stated, "Clearly, this area has the potential to produce a large variety of gem materials."

The National Jeweler stated, "The 13,000-acre area is a fertile source of star cabochon sapphire, garnet, aquamarine, beryl, tourmaline, titanite, moonstone, smoky rose and star quartz mines." "Most customers are looking for blue material, and there is a great market for beautiful stones."

The Jewelers Circular Keystone highlighted the company's iolite in their North American Beauties series of articles. The article stated, "Gem iolite recently found in British Columbia has been described as some of the largest and finest-quality in the world." "Iolite is not a gem associated with North America, but that's going to change. There's an important new find in Canada that will add this beautiful, sapphire-like gemstone to the North American repertoire."

The recent issue of Professional Jeweler commented, "Iolite is considered rare in its best qualities, especially when it's over 5 carats." "Demand is climbing for 2 - 5 carat iolite, which sells for US$40 - 60 per carat wholesale."

The first iolite gems were cut by master gem cutters and designers, Bruce MacLellan of Mountain Gems Ltd., and Ken Dale of Rusty's Gems Ltd., who stated that the iolite is among the finest they have ever cut. The cutters both remarked on the superb blue-violet color, excellent clarity, and intense brilliance of the gems.

Anglo has identified six outcrops of iolite on the property covering a total strike distance of 1,500 meters. The largest outcrop, which is open at depth in all directions, has been estimated by an independent geologist/gemologist (David Barclay C.I.G., December 1998) to contain in excess of one billion rough carats. The percentage of gem quality iolite is hard to estimate due to the extreme effects of weathering, which has altered these surface exposures. However, a conservative estimate of 1% gem grade is reasonable to expect.

"How big is the market for iolite?" is the question most frequently asked of Len Danard, president of Anglo Swiss Resources. "My response," stated Mr. Danard "is to quote the US Department of Commerce, which reported retail jewelry sales topped (1)US$23 billion last year. However, The Basel Magazine, believes the actual figure could be closer to (1)US$39 billion when department stores, discount stores and home shopping networks are included. The colored stone market is approximately 10% of this figure. More important to Anglo is that a leading jewelry retail analyst recently predicted that the next decade is going to be one of the strongest periods for jewelry sales in the history of US retailing." (1)(Source: Basel Magazine -- January 2000 edition.) Private Placement

In additional news, the company closed its recent private placement of $600,000. The placement consisted of 4,000,000 common shares at $0.15 and 4,000,000 share purchase warrants, exercisable over a two year period. The first year exercise price is $0.20 and $0.25 in the second year.